HSBC North America Holdings Inc. Mortgage Complaint

HSBC North America Holdings Inc. Mortgage department,

Other mortgage Loan modification,collection,foreclosure Indiana

1. The first complaint that I have is that I requested a loan modification -/-/2015 because I was unable to make my payments at the current rate and I was approved. I followed everything I was supposed to do according to the verbal conversation I had with the representative. After I mailed the 4th payment I received a letter telling me the loan mod was cancelled because I had not sent back the paperwork. I called and asked what paperwork they said the modification agreement. When I requested them to send it back out so I could sign it, their response was no we will not send the paperwork again, we are returning the last ( 4th ) payment made and to not make any other payments at the modification amount, and to contact a HUD agent. 2. After working with a HUD agent for the last 6 months, we have been offered a new loan modification agreement. This modification agreement has worse terms that the last one. Examples of these terms are the interest rate and the length of the modification.


to get verification on so we could make an informed decision before sending in the $1500.00 payment required to start the modification process. However when I received the paperwork to sign and send it back it said the rate was 6.232 % and after the 24 months it would go up it would back to the 11.9 % interest rate. B. This new modification is for only 24 months not a permanent resolution to the problem. The last loan mod was a permanent fixed modification. 3. The new loan modification paperwork I have received says that the balloon payment is no longer required but is unclear if it will come due at the end of the 24 month modification or the end of the loan or if it completely gone. All of these answers have been given to us by several " mortgaging specialists '' at HSBC when we have called to get clarification and none of these answer are put into writing give confirmation of what answer is the correct answer. 4. Deferred Interest : In the modification agreement I received it claims over - dollars in deferred interest. When asked about this we were not given answer on who authorized and agreed to this. I was told on the Phone with my HUD agent present the last deferment was made in - 2015, which I had no knowledge of, did not ask for at the time, and was not notified of the deferment. HSBC took it upon themselves to do what they wanted without consulting or notifying me about this. 5. Then all on the same day, my HUD agent was notified I was approved for the loan modification, I was sent the preliminary paper stating that I need to mail the - payment to start the modification process, and they filed for foreclosure.